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Cameroon issues 10-year T-bonds to raise XAF25 bln on the BEAC money market

Cameroon issues 10-year T-bonds to raise XAF25 bln on the BEAC money market
  • Comments   -   Wednesday, 06 May 2020 13:44

(Business in Cameroon) - For the first time since the creation, in 2011, of the BEAC public securities market, a CEMAC country will issue a 10-year fungible Treasury bond (T-bonds).

Today, May 6, Cameroon will issue the bonds, backed by a 7% interest rate, to try to raise XAF25 billion. This envelope will complement the XAF140 billion it already raised on this market between 8 and 29 April 2020, for the financing of infrastructure projects.

Internal sources at the Ministry of Finance reveal that apart from today’s T-bonds operation, Cameroon is also offering 26-weeks T-bills to raise XAF20 billion for its short-term cash needs.

According to credible sources, today’s T-bonds issuance will be followed by a 7-year T-bonds backed by a 6.5% interest rate aimed at raising XAF25 billion.

Cameroon will then extend the April 8, 2020, operation during which 5-year T-bonds backed by a 5.7% interest rate were issued. By extending this operation, it hopes to mobilize an additional XAF30 billion. According to our sources, the last two operations mentioned above should take place in June 2020, and thanks to them, the requested XAF220 billion will be completed.

Brice R. Mbodiam

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